Little Falls transcript., 1887-03-18
Ruined by q Grand Prize.

q
Dispatch to the Boston Herald. Is,
The fact has been made public in
Philadelphia that Richard Pennistan
bas just been admitted as guest to
the Forrest Home. IN 1873, Pennis-
tar drew $500, 900 in the Royal Hav-
ana lottery, but be has been pennlless
inr several years. Richard Pennistan
and his wife were Of English birth and
professional breeding and were mem
bers Of the stock company Of the
Arch Street Theatre, and playing
responsible parts before Wheatly
and Drew became the lessees,
about 1852. Mrs. Pennistan, long
since deceased, was also a playwright
ofsome note. and several OF her plays
were represented on the American
stage Soon after the dissolution of
the old Arch street company, the
brown stone building on the south
east corner OF Third and Chestnut
streets was erected, and in the base
ment Of this Mr.. Pennistan opened a
drinking place, where he soon found
fame and patronage and money by
his pleasant address and the quality
OF his liquors, more particularly his
ales, and here he remained until about
the middle of the war of the rebellion.
He then opened place in Browns
building at Fifth and Chestnut streets,
and here he did large business and
very profitable one up to the time of
his lottery drawing. He was, however,
during this time, more or less embar-
rassed financially through his invest
,nlent in horse flesh, and this proba-
bly, led him to investments in lottery
tickets, beginning about year and g.
half before the last of March, 1873,
when the official announcement of
the drawing of the Royal Havana lot
terry informed him that his 500 tick
ct had drawn $5OO,OOO.
AT this time he was the owner OF 90
horses, many of them very valuable
In company with his friend, Whitney,
the brewer. Mr.. Pennistan at once
went to New York, and placed
the ticket for collection with August
Belmont, receiving in cash, after some
delay and litigation with Mr.. Whit
nev, who claimed share of the prize,
which was, however, disallowed by
the courts, $42O,OOO, $4,000 being
charged by Mr.. Belmont for collection,
exchange, etc. Then upon returning
to Philadelphia, Mr.. Pennistan sold
his place on Chestnut street, with ~
portion OF the stock, for S54, 600, and
another place at the northeast corner
OF Eight and SAMSON streets for $5-
900, besides which he had about $50
900 of liquor untouched, and his
horses. Upon his liquor there was
probably money owning, but in all he
had undoubtedly a half million clear
in money, and probably more.
He was genial man and had many
friends, some of them true ones, who
advised him to put half, if not more,
of his money IN an invincible trust
fund. Instead OF this, he began oper-
ations on Third street, and inside OF
two years he had dropped there from
$15O,OOO to $1,000 His dealings
in horses, too, went on ali the while,
and he lost heavily on stud farm
near Lexington, KY. He was, besides
this, badly defrauded by the agents,
who ran or trotted his horses in races,
and his blooded colts, when sold at
auction, although we'll advertised and
of irreproachable pedigree, went for g.
song, buyers combining not to bid
against each other and dividing up the
poorly paid-for stock afterward. In
fact, he was remorseessly skinned"
by horsemen, and in less than six
years was reduced to a bare living up
on the income ofsome few investments
which he had made in his wealthy
days. This finally was exhausted,
and for some years past he has been
indebted to the kindness OF friends for
his subsistence. No one who knows
Richard Pennist stan believes other than
that if he had not drawn that lottery
prize he would to-day be a wealthy
man.